Democrats Split on Taxes, Climate, College as Deadline Nears

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Bloomberg Quicktake: Now published this video item, entitled “Democrats Split on Taxes, Climate, College as Deadline Nears” – below is their description.

Congressional Democrats are at odds over both the tax and spending sides of a bill to enact the bulk of President Joe Biden’s economic agenda, even as party leaders aim to have an outline of a deal by the end of the week.

The chances for agreement — which seemed in reach late Tuesday — receded Wednesday as Democratic leaders intensified a search for alternatives to the corporate and individual tax hikes they’d worked on for months. That’s amid opposition from Senator Kyrsten Sinema of Arizona. Democrats also are reworking the bill’s climate provisions, after Senator Joe Manchin of West Virginia said he can’t support a clean power program favored by Biden.

The eleventh-hour moves to appease the two senators — whose crucial votes are seen as the hardest to win — demonstrate the massive changes that lawmakers must make to the tax and spending plans the White House published in the spring.

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